A $114,000 mortgage loan has a 25-year amortization. a. Calculate the monthly payment at interest rates of 6.8%, 8.8%, and 10.8% compounded semiannually. (Do not round intermediate calculations and round your final answers to 2 decimal places.)

Interest rate		Monthly payment
6.8%		$
8.8%		$
10.8%		$

b. By what percentage does the monthly payment on the 10.8% mortgage exceed the monthly payment on the 6.8% mortgage? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Percent difference % c. Calculate the total interest paid over the entire 25-year amortization period at each of the three interest rates. (Assume the final payment equals the others.) (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount.)

Interest rate		Total interest paid
6.8%		$
8.8%		$
10.8%		$

A $114,000 mortgage loan has a 25-year amortization. a. Calculate the monthly payment at interest rates of 6.8%, 8.8%, and 10.8% compounded semiannually. (Do not round intermediate calculations and round your final answers to 2 decimal places.) Interest rate Monthly payment $ 6.8% $ 8.8% 10.8% $ b. By what percentage does the monthly payment on the 10.8% mortgage exceed the monthly payment on the 6.8% mortgage? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Percent difference % c. Calculate the total interest paid over the entire 25-year amortization period at each of the three interest rates. (Assume the final payment equals the others.) (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount.) Total interest paid $ Interest rate 6.8% 8.8% 10.8% $ $